Looking Back To 2018: When XRP Was Leading Bitcoin And Ethereum
By:W, LeahAn interesting tweet from a crypto enthusiast called Crypto Assets Guy that has sparked a discussion within the cryptocurrency community regarding Ripple’s (XRP) market position in 2018.
The tweet includes an image displaying a snapshot of the top cryptocurrencies by market capitalization from that year. The accompanying message reads, “$XRP back in 2018. This could happen again. You have been warned,” which appears to caution followers about the potential for Ripple to rise to dominance once more.
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A Glimpse into the 2018 Crypto Market Landscape
The shared image highlights XRP’s top position in terms of market capitalization. The image indicates that in 2018, XRP held the number one position in terms of market capitalization, surpassing Bitcoin, with a market cap of over $238 billion and a price of $2.38. Bitcoin, often seen as the flagship of cryptocurrency, followed closely behind with a market cap of $214 billion and a price of approximately $12,764.
Another prominent cryptocurrency Ethereum (ETH) ranked fourth, with a market capitalization of $68 billion and a price hovering around $703.77. Other lesser-known coins such as SolarCoin, ATM Coin, Stellar, and Cardano also made the list.
During 2018, the cryptocurrency market underwent a period of remarkable volatility. Ripple’s rise to the top spot was seen by some as an anomaly, given that Bitcoin and Ethereum had traditionally dominated the market.
Ripple’s rise to the top spot in 2018 was largely due to its focus on institutional banking partnerships and cross-border payment solutions, setting it apart from other cryptocurrencies that emphasized decentralization and peer-to-peer transfers.
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Contemplation on Ripple’s Current Position
Advancing to 2024, Ripple’s once formidable lead has diminished. CryptoMarshal.Monty, an X user, in his response, underscored this shift by comparing the meteoric growth of Bitcoin and Ethereum over the past six years, with both experiencing approximately 500% appreciation. Conversely, he notes XRP’s steep descent, witnessing a 75% decline from its 2018 pinnacle.
This shift reflects broader industry dynamics and advancements. Bitcoin’s solidification as a store of value, coupled with Ethereum’s groundbreaking contributions to decentralized finance (DeFi) and smart contracts, has rendered both cryptocurrencies increasingly appealing to long-term investors and developers alike.
Ripple, however, has confronted a slew of legal challenges, notably its ongoing dispute with the U.S. Securities and Exchange Commission (SEC) regarding XRP’s classification as a security. This legal ambiguity has instilled uncertainty in the market, stalling or even reversing Ripple’s value while other cryptocurrencies flourished.
Yet, amidst this downturn, a glimmer of optimism persists within the XRP community. CryptoMarshal.Monty’s tweet hints at the potential for XRP to reclaim the $1 mark during a bull run, a prospect that remains plausible.
Ripple remains active in banking and financial technology, and a favorable resolution to its legal challenges could reignite interest from institutional investors.
Furthermore, XRP’s relatively low price may attract those seeking a cost-effective entry into the cryptocurrency landscape, especially if its utility in the financial sector remains robust.
The Role of Community Sentiment in Crypto Markets
A central lesson emerging from this exchange is the pivotal role that community sentiment plays on cryptocurrency markets. Crypto Assets Guy and CryptoMarshal.Monty represents different segments within the broader crypto sphere, with the former expressing optimism about XRP’s resurgence and the latter adopting a more critical stance, citing its recent underwhelming performance.
The XRP community, specifically, has often found itself at the receiving end of ridicule from fellow crypto enthusiasts, stemming from the perceived mismatch between Ripple’s grandiose aspirations and its market standing.
Nonetheless, it is crucial to acknowledge the inherent volatility of the cryptocurrency market, where past performance is not a reliable predictor of future trends. Despite Ripple’s significant decline in market capitalization and price since 2018, the market landscape could shift dramatically under favorable conditions, particularly during periods of heightened market activity, such as a bull run.
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How to Buy Ripple (XRP)?
If you are interested in buying Ripple (XRP) coins, we are excited to announce that XRP USDT-margined perpetual futures contract with a leverage of up to 500x is available on BTCC, you can buy XRP coin on BTCC .
The following sets forth the guidance for XRP USDT-margined perpetual futures contract trading on cryptocurrency exchange BTCC:
Step One: go to the BTCC homepage and log in to your BTCC account. If you do not have an account, you need to register first.
Step Two: on the BTCC official homepage, choose “Deposite”, and then fund your account through your preferred methods.
Step Three: go back to the BTCC official homepage, choose “Futures” -“USDT-M Perpetual Futures Contract”, and find XRP coin trading pair.
You can also directly click the button below to enter the XRP order page⇓
Step Four: choose the contract trading order type. BTCC contract orders are divided into market orders, limit orders and SL/TP orders.
- Market Order: users place orders at the best price in the current market to achieve fast trading.
- Limit Order: Limit orders are a type of order to buy or sell futures at a price more favourable than the market price. When you buy at a price lower than the market price or sell at a price higher than the market price, the order will be in the form of a limit order.
- SL/TP Order: SL/TP orders are a type of order to buy or sell futures at a price less favourable than the market price. When you buy at a price higher than the market price or sell at a price lower than the market price, the order will be in the form of a SL/TP order.
Step Five: adjust the leverage multiple.
Please keep in mind that operating leverage carries the risk of liquidation. Leverage should be adjusted based on your financial status and risk tolerance.
Step Six: choose the lot size and set the SL/TP price .
Step Seven: after setting the basic data information, users can choose to buy (open long) or sell (open short) after entering their ideal price. Traders should remind that the price cannot be higher or lower than the highest buying price or lowest selling price of the platform.
Step Eight: click the buy or sell button, and the XRP coin futures contract order is completed.
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BTCC, one of the longest-running exchanges in the world, supports crypto spot trading, copy trading, as well as futures trading for 300+ cryptocurrencies with leverage ranging from 1Χ to 500Χ. If you want to trade cryptocurrency, you can start by signing up for BTCC.
BTCC is among the best and safest platforms to trade cryptos in the world. The reasons why we introduce BTCC for you summarize as below:
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